Apr 21: Initial Claims – Economic Highlights

Initial Claims decreased to 403,000, for the week ending 04/16, against the expected decrease to 395,000, after increasing to 416,000, the revised level for the previous week. This is the first time that jobless claims have been above 400,000 for two straight weeks since January. The 4-week moving average increased to 399,000, from the previous week’s revised average of 396,750. This is the highest level since the week ended February 19th. However, despite this increase, the four-week average has remained below the 400,000 mark for eight consecutive weeks, a level associated with steady job growth. Seasonally adjusted insured unemployment from the prior week, ending on 04/09, was 3,695,000, a decrease of 7,000 from the preceding week’s revised level of 3,702,000. Seasonally adjusted insured unemployment rate from the week ending on 04/09, was 2.9%, unchanged from the previous week’s unrevised figure of 2.9%.

The Conference Boards’ Leading Indicators Index numbers are expected today at 10:00 AM EST. The index had increased by 0.8% in February to 113.4 (2004=100). The Coincident Index increased in February to 102.5 (2004=100) and the Lagging Index increased to 108.0 (2004=100).